RE:Todays Selling is Anson Funds If that is true, they are so screwed.
To cover 3 million shares, you would need about 5x that many shares to trade in the market (assuming you can even manage to buy at 20% of volume). So if they are
Year to date, RECO has traded about 1.7 million shares/day. So they are looking at trying to cover 3 million shares into a rising market over 9 long and miserable trading days. Of course once the market figures out there is a desperate buyer, the sharks will circle around Anson and the offers will start vanishing.
FWIW, the warrants are trading at $3.75...which implies a future price of $17.75. Yeah...that is where the last bit of buying to cover for Anson will come in.